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The Variability and Volatility of Sleep : An Archetypal Approach

Hamermesh, Daniel S.; Pfann, Gerard A. - 2022

independent of other demographics. A theory of economic incentives to minimize the dispersion of sleep predicts that higher …

Persistent link: https://www.econbiz.de/10014083924

Belief Elicitation in Experiments : Is There a Hedging Problem?

Blanco, Mariana; Engelmann, Dirk; Koch, Alexander K.; … - 2021

existing belief elicitation results, (ii) can we avoid potential hedging confounds? Our results instill confidence regarding … both issues. We propose an experimental design that eliminates hedging opportunities, and use this to test for the … empirical relevance of hedging effects in the lab. We find no evidence for hedging, comparing the standard "hedging …

Persistent link: https://www.econbiz.de/10013325138

Misspecification Testing in a Class of Conditional Distributional Models

Rothe, Christoph - 2012

We propose a specification test for a wide range of parametric models for the conditional distribution function of an outcome variable given a vector of covariates. The test is based on the Cramer-von Mises distance between an unrestricted estimate of the joint distribution function of the data,...

Persistent link: https://www.econbiz.de/10013110184

From Riches to Rags, and Back? Institutional Change, Financial Development and Economic Growth in Argentina Since the 1890s

Campos, Nauro - 2014

Argentina is the only country in the world that was "developed" in 1900 and "developing" in 2000. The various competing explanations highlight, mainly, the roles of trade openness, political institutions, financial integration, financial development, and macroeconomic instability. Yet no study...

Persistent link: https://www.econbiz.de/10013042993

Breakthroughs, Backlashes and Artificial General Intelligence : An Extended Real Options Approach

Gries, Thomas; Naudé, Wim - 2022

Breakthroughs and backlashes have marked progress in the development and diffusion of Artificial Intelligence (AI). These shocks make the investment in developing an Artificial General Intelligence (AGI) subject to considerable uncertainty. This paper applies a real options model, extended to...

Persistent link: https://www.econbiz.de/10014083861

The Economics, Technology and Neuroscience of Human Capability Formation

Heckman, James J. - 2015

This paper begins the synthesis of two currently unrelated literatures: the human capital approach to health economics and the economics of cognitive and noncognitive skill formation. A lifecycle investment framework is the foundation for understanding the origins of human inequality and for...

Persistent link: https://www.econbiz.de/10014049108

Temporary Shocks and Offshoring : The Role of External Economies and Firm Heterogeneity

Mitra, Devashish; Jha, Priyaranjan - 2007

We construct a model of offshoring with externalities and firm heterogeneity. Due to the presence of externalities, temporary shocks like the Y2K problem can have permanent effects, i.e., they can permanently raise the extent of offshoring in an industry. Also, the initial advantage of a country...

Persistent link: https://www.econbiz.de/10014049472

Diagnostic Tests of Cross Section Independence for Nonlinear Panel Data Models

Hsiao, Cheng; Pesaran, M. Hashem; Pick, Andreas - 2014

In this paper we discuss tests for residual cross section dependence in nonlinear panel data models. The tests are based on average pair-wise residual correlation coefficients. In nonlinear models, the definition of the residual is ambiguous and we consider two approaches: deviations of the...

Persistent link: https://www.econbiz.de/10014051110

A Positive Analysis of Targeted Employment Protection Legislation

Dolado, Juan J.; Jansen, Marcel; Jimeno, Juan F. - 2007

In many countries, Employment Protection Legislation (EPL) establishes less strict dismissal procedures for specific groups of workers. This paper builds a simple matching model with heterogeneous workers in order to analyze this feature of EPL. We use the model to analyze the effects of reforms...

Persistent link: https://www.econbiz.de/10014051630

Retirement and Consumption in a Life Cycle Model

Blau, David - 2007

Consumption expenditure declines sharply at the time of retirement for many households, but the majority maintain a smooth consumption path. A simple life cycle model with uncertainty about the time of retirement can account for this pattern. A richer version of the model is calibrated to data...

Persistent link: https://www.econbiz.de/10014224349